Vestcor Inc Sells 3,110 Shares of DTE Energy (NYSE:DTE)

Vestcor Inc trimmed its holdings in DTE Energy (NYSE:DTE) by 45.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,702 shares of the utilities provider’s stock after selling 3,110 shares during the quarter. Vestcor Inc’s holdings in DTE Energy were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its stake in DTE Energy by 7.0% during the 3rd quarter. State Street Corp now owns 10,193,572 shares of the utilities provider’s stock valued at $1,319,264,000 after acquiring an additional 662,569 shares in the last quarter. Zimmer Partners LP bought a new stake in DTE Energy in the 3rd quarter worth about $69,894,000. Point72 Asset Management L.P. bought a new stake in DTE Energy in the 3rd quarter worth about $66,733,000. Raymond James Financial Inc. purchased a new stake in DTE Energy in the 4th quarter valued at about $43,063,000. Finally, Nordea Investment Management AB lifted its position in shares of DTE Energy by 2,235.2% during the 4th quarter. Nordea Investment Management AB now owns 221,237 shares of the utilities provider’s stock worth $26,706,000 after buying an additional 211,763 shares in the last quarter. 76.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com upgraded DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank lifted their target price on DTE Energy from $137.00 to $147.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets increased their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. UBS Group raised shares of DTE Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $143.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley dropped their target price on shares of DTE Energy from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy has a consensus rating of “Moderate Buy” and an average target price of $137.09.

DTE Energy Stock Up 0.3 %

DTE opened at $135.60 on Tuesday. DTE Energy has a 12 month low of $103.06 and a 12 month high of $138.93. The company has a market cap of $28.10 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $126.10 and a 200 day moving average of $124.55.

DTE Energy (NYSE:DTE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, sell-side analysts expect that DTE Energy will post 7.18 EPS for the current year.

DTE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, March 17th. DTE Energy’s dividend payout ratio is presently 64.40%.

Insider Transactions at DTE Energy

In other DTE Energy news, CAO Tracy J. Myrick sold 1,014 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $129.92, for a total value of $131,738.88. Following the transaction, the chief accounting officer now directly owns 3,437 shares in the company, valued at $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joann Chavez sold 7,062 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $132.40, for a total value of $935,008.80. Following the completion of the sale, the senior vice president now directly owns 14,067 shares in the company, valued at approximately $1,862,470.80. The trade was a 33.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,877 shares of company stock valued at $1,559,205. 0.61% of the stock is currently owned by corporate insiders.

DTE Energy Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.